Yeah, i’ve harped before about keeping good records and tracking expenditures and income, but when i hear the same people complain about having no money to pay bills, yet when asked if they keep records, they say ‘no,’ it causes me to wonder if they just want to complain, don’t have any idea of where their money is being spent, or perhaps don’t want to know. But, like anything, if one doesn’t make improvements, then you’ll always be able to complain about something and that is stressful.

It’s imperative and so easy to keep track of expenses. Most can simply use a notebook and pencil. Even easier is to have a calculator in the mix. (Coffee optional) Write down the amount or ask for a receipt when you stop by the coffeeshop for a latte. Picking up a soda from a vending machine – well, you’ll have to write it down. Whatever you need to do, keep track of even the smallest expenditure and categorise it. THEN, you can make decisions to change and improve your financial situations. Reimburse your cash expenditures by writing a check to maintain your petty cash stash. Sure, you can take cash out of your paycheck each month, but it makes it more real when you have to write a check. Keep your petty cash in balance.

This can be applied to businesses as well, but managing one’s household and personal expenses is the first step. Personal finance record keeping should begin in the preteen years – as soon as you earn or spend money.